Off the wire
• 1st LD Writethru: Volkswagen scandal also affects nearly 100,000 petrol vehicles: German Transport Minister  • University students in London protest over scrapping of maintenance grants  • UNICEF warns of "crisis" as increased children, women seek refuge in Europe  • EU close to its 2020 green house emission target: data  • Albania, Croatia sign cooperation plan on health care  • Cypriot court orders remand of three men after sea rescue  • Vinci makes winning start at WTA Elite Trophy Zhuhai  • AU welcomes agreement by South Sudan parties on security arrangement  • PLO adopts recommendations to determine ties with Israel  • Feature: Trevi Fountain in Rome reopens after restoration  
You are here: 　 Home

British services PMI rises to 54.9 in October

Xinhua, November 5, 2015 Adjust font size:

British services purchasing managers' index (PMI), a gauge measuring the industry activity, up to 54.9 in October from 53.3 in September, indicating that the Index rose for the first time since June, said data supplier Markit on Wednesday.

According to the report, the pace of expansion in output was still the second-weakest since May 2013, and new business growth failed to accelerate from September's 29-month low. Moreover, the 12-month outlook for activity was the weakest in two-and-a-half years.

Service sector employment rose in October, continuing the trend shown since January 2013. The rate of job creation strengthened to a five-month high, and remained faster than the long-run survey average.

Chris Williamson, Chief Economist at Markit, commented: the PMI surveys brought welcome news of faster economic growth at the start of the fourth quarter. A faster rate of expansion in service sector activity accompanied the steep upturn in manufacturing growth and robust construction sector growth reported earlier in the week.

David Noble, Group Chief Executive Officer at the Chartered Institute of Procurement & Supply said, "good news for jobseekers and those looking for a pay rise in the service sector this month as a rise in the headline index signaled faster growth, albeit at more a muted pace than in manufacturing and construction." Enditem